Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement rang true for a lot of people. It remains one of the broadcasters where one can locate reality-based and largely dependable reporting – notably during fast-moving events like the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Struggle
Yet the news network, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
A Further Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s not exactly a secure position. That arrangement could set up CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Issue and a Path Forward
Whatever happens regarding CNN, the underlying crisis persists.
“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
